Reckson tips its hat to NJ brokerage community.

Reckson Associates Realty Corp. (NYSE: RA) recently held its annual salute to the New Jersey brokerage community at its recent acquisition, 3 Giralda Farms in Madison, New Jersey.

The event, which was attended by more than 250 of the leading real estate industry elite, corporate executives and municipal leaders, is recognized as one of the largest annual industry gatherings in New Jersey.

To date in 2004, Reckson recorded substantial success in the marketplace, resulting in above market occupancy throughout its 2.6 million-square-foot New Jersey portfolio. The Company's performance is recognized as one of the most successful leasing efforts recorded in the state this past year.

At the event, Reckson presented its annual "Deal of the Year" award to CB Richard Ellis' Jeffrey Babikian, senior vice president, and Linda Dow, executive vice president, for the Daiichi Pharmaceutical Corporation (Daiichi) lease transaction at 3 Giralda Farms. Daiichi (DPC), a Japan-based global pharmaceutical company, signed a 141,000-square-foot lease occupying the entire property as their U.S. headquarters within two months after Reckson acquired 3 Giralda Farms, a Class A office building in the prestigious Giralda Farms Corporate Park.

Additionally, Reckson presented its "Broker of the Year Award" to Doug Gaffney, senior managing director of The Schultz Organization/TCN Worldwide, for closing a 55,000-square-foot lease for the headquarters of Investors Savings Bank at 101 JFK Parkway at Reckson Office Center in Short Hills.

"It is with great pride that we host the real estate community each year with this special evening to recognize their efforts and dedication to Reckson," stated Todd Rechler, corporate senior vice president and managing director of Reckson's New Jersey division.

"We would also like to take this opportunity to thank all the winners of the brokerage recognition awards and express our appreciation for entrusting their valued tenant relationships to Reckson.

"Both of this year's winning transactions reflect the common themes of creativity, speed of execution and spirit of partnership among all parties involved," Rechler added.

Reckson was extremely active throughout New Jersey in 2004 by continuing to provide tenants with the highest caliber office facilities in the most desirable locations. Its "Landlord of Choice" strategy enabled Reckson to outperform in the New Jersey marketplace.

Highlights of Reckson's activity in 2004 to date in New Jersey include:

The acquisition and subsequent full-building lease to Daiichi Pharmaceutical at Three Giralda Farms, a 141,000-square-foot, Class A office building located within the prestigious Giralda Farms Corporate Campus in New Jersey.

This transaction reflects Reckson's market leadership position and continued investment in the Route-24 corridor.

* The acquisition of a 215,000-square-foot, Class A office building located at 44 Whippany Road in Morristown. The property, renamed Reckson Office Center, totals three floors, offers rich and dramatic architectural details, which include such features as distinctive wood paneling, as well as a custom limestone, granite and glass facade.

The building is also distinguished by its elegant landscaping, 24/7 access and security, on site cafe and a walking trail. The office complex is minutes to Interstate 287 and Route 24.